Optimum conditions for vacuum-drying ad cultivation of yeast cells for the production of active dry yeast were examined. At lower temperature, more drying time was required to dry the yeast pellet to reach the desirable water content(8%). Optimum temperature of vaccum oven and time for drying was 63$^{circ}C$ and 90 min, respectively. Optimum medium composition for flask culture using cane molasses as the substrate were 0.25% sugar, 0.013% $K_2$HPO$_4$, 0.1% $K_2$HPO$_4$. and 0.125% (NH$_4$)$_2$SO$_4$. Culture temperature $25^{circ}C$ gave the highest survival rate of dired yeast. After finishing fed-batch culture and the culture was left in the fermentor without adding any sugar or nutrient, survival of the dried yeast harvested from the fermentor increased to 86.0% after 36 hr. It was also observed that the yeast cells with higher budding rates showed lower survival rate.